HomeMy WebLinkAboutContract 59117CSCO NO. 59117
TRANSPORTATION IMPACT FEE CREDIT AGREEMENT
THIS TRANSPORTATION IMPACT FEE CREDIT AGREEMENT (the
"Agreement") is made and entered into effective as of the Effective Date (as defined below), by and
among THE CITY OF FORT WORTH, TEXAS (the "City"), a Texas home rule municipal
corporation, and Pulte Homes of Texas, LP, a Texas limited partnership authorized to do business in
Texas (the "Owner") (the City and the Owner a "Party", and collectively, the "Parties").
RECITALS
WHEREAS, the Owner is the owner of approximately 33.09 acres in Tarrant County, Texas,
as described by metes and bounds in Exhibit "A" (the "Property") located within the corporate
boundaries of the City. A map of the Property showing its location is attached hereto as Exhibit
"B"; and
WHEREAS, the Owner desires to proceed with development of the Property as described
or illustrated on the Development Plan, attached hereto as Exhibit "C" which identifies the on -site
and/or off -site transportation facilities necessary for serving full development of the Property; and
WHEREAS, the City has adopted a Transportation Impact Fee program pursuant to Texas
Local Government Code Chapter 395, codified in City Code Chapter 30, Article VIII, et seq., as
amended, under which impact fees are imposed on new development for impacts to the City's
transportation facilities as a result of said development; and
WHEREAS, transportation impact fees are collected and must be spent by the City on impact
fee eligible transportation facilities identified within the City's adopted Transportation Improvements
Plan ("TIP"), as amended, within the service area(s) in which the new development is located; and
WHEREAS, the Impact Fee Program provides for credits against impact fees for dedication
of right-of-way and/or construction of transportation improvements identified as impact fee eligible
on the adopted TIP; and
WHEREAS, the Property is located within service area Y; and
WHEREAS, the City has determined the maximum transportation impact fees to be assessed
against new development within service area Y to be $2,348 per service unit (vehicle -miles of demand);
and
WHEREAS, certain transportation facilities depicted on Exhibit "D" are identified as
impact fee eligible within the City's adopted TIP and therefore eligible for impact fee credit; and
WHEREAS, Owner has agreed to dedicate the right-of-way and/or constructed the
transportation improvements shown on Exhibit "D" for which credits against transportation impact
fees shall be granted; and
WHEREAS, the Owner has received preliminary plat approval for Newberry Point Phase 2,
PP-18-086; and
Transportation Impact Fee Credit Agreement - CA-22-003 OFFICIAL RECORD Page 1 of 14
Newberry Point Phase 2 CITY SECRETARY Updated 2/23/2021
FT. WORTH, TX
WHEREAS, the Owner has dedicated 114,427 square feet of right-of-way for W. Cleburne
Road with FP-21-102, recorded as Instrument D222015841, January 4, 2022; and
WHEREAS, the Owner has executed a Future Improvement Agreement (CFA21-0067), City
Secretary Contract Number 57185, for Newberry Point Phase 2.
NOW, THEREFORE, for and in consideration of the mutual agreements, covenants, and
conditions contained herein, and other good and valuable consideration, the City and the Owner
hereby covenant and agree as follows:
1. Recitals. The recitals contained in this Agreement are true and correct as of the
Effective Date and form the basis upon which the Parties negotiated and entered into this Agreement.
2. Transportation Improvements. Owner agrees to dedicate the rights -of -way for and/or
construct the system facilities identified in Exhibit "D". For any transportation improvement which
has been previously dedicated or constructed by Owner on the Property and accepted by the City
prior to execution of this Agreement, the improvement shall be identified as completed on Exhibit
"D"
3. Credits. The Parties agree that the estimated value of the credits for each
transportation improvement, expressed in current dollars, shall be as set forth in Exhibit "E". The
value of credits associated with the improvements first shall be reduced by the Schedule 2 impact fee
associated with any lot for which a building permit has previously been issued, and the net value of
credits shown on Exhibit "E" shall be considered as exact.
4. Phasing. The Parties acknowledge that, where it is anticipated that the project will be
developed in phases, the anticipated construction of improvements by phase shall be as depicted in
Exhibit "D", which is attached hereto and incorporated herein by reference.
5. Allocation of Credits by Phase. The general allocation of credits to each phase of the
development shall be as shown on Exhibit "F", which is attached hereto and incorporated herein by
reference. The Parties agree that the credits identified in this Agreement shall not be deemed to have
been created until the system facility for which credit is to be granted has been dedicated and accepted
(in the case of right-of-way) or constructed through an executed Community Facilities Agreement and
final acceptance by the City has been obtained. The Parties further agree that, prior to the application
of a credit against transportation impact fees otherwise due for any unit of development; the following
events shall take place:
(a) The number of credits resulting from such improvement has been valued; and
(b) Concurrent with final plat approval, a credit allocation shall be provided by the
developer for the phase of development to which the credit is to be applied, which allocation may
either assign the credit, expressed in dollars, to each finally platted lot or may create a credit -pool to
be utilized by that phase of development.
6. Term and Effective Date. The term of this Agreement shall be ten (10) years from
its Effective Date.
Transportation Impact Fee Credit Agreement - CA-22-003 Page 2 of 14
Newberry Point Phase 2 Updated 2/23/2021
7. Assignment. Owner shall have the right to assign this Agreement to any person or
entity ("Owner's Assignee") with the written consent of the City, provided: (a) the assignment is in
writing executed by the Owner and its assignee; and (b) the assignment incorporates this Agreement
by reference and binds the Owner's Assignee to perform (to the extent of the obligations assigned) in
accordance with this Agreement. Each Owner's Assignee shall become a Party to this Agreement
upon the execution of such assignment. In no event may this Agreement be construed to authorize
assignment of any credits attributable to a system facility to be dedicated or constructed hereunder for
use outside the boundaries of the Property.
Amendment. This Agreement shall not be modified or amended except as follows:
(a) Any amendment or modification to this Agreement or any Exhibit or schedule hereto
shall be in writing and signed by the Parties.
(b) Any revision, amendment, or modification to this Agreement, the Development Plan,
or any Exhibit or schedule thereto, shall become effective on the date executed by the
Parties or, as applicable, upon the date of approval by the City Council or designated
city official.
9. Exhibits. The exhibits attached to this Agreement are incorporated as part of this
Agreement for all purposes as if set forth in full in the body of this Agreement.
Transportation Impact Fee Credit Agreement - CA-22-003 Page 3 of 14
Newberry Point Phase 2 Updated 2/23/2021
IN WITNESS WHEREOF, the undersigned parties have executed this Agreement to be
effective as of the date subscribed by the City's Assistant City Manager.
CITY OF FORT WORTH, TEXAS
Lana &Uh—�Io�F
Dana Burghdoff (MAY27, 20231 :24 CDT)
Dana Burghdoff
Assistant City Manager
Date:
Recommended By:
DJ Harrell (Mar 23, 202315:21 CDT)
DJ Harrell
Director, Development Services
Approved as to Form and Legality:
p��
Mack (Mar27, 202313:57 CDT)
Douglas Black
Assistant City Attorney
M&C: None required
Form 1295: None required
ATTEST:
Jannette Goodall
City Secretary
OWNER
Pulte Homes of Texas, L.P.
a Texas Limited Partnership
zzv-&e-
MZar 8, 2023 10:41 CST)
Marc Zett
Vice President of Land Development
City Contract Compliance Manager:
By signing, I acknowledge that I am the person
responsible for the monitoring and
administration of this contract, including
ensuring all performance and reporting
requirements.
J fifer Robefts (Mar , 2023 10:26 CST)
Jennifer Roberts
Assistant Director, Development Coordination
Development Services Department
OFFICIAL RECORD
CITY SECRETARY
FT. WORTH, TX
Transportation Impact Fee Credit Agreement - CA-22-003 Page 4 of 14
Newberry Point Phase 2 Updated 2/23/2021
EXHIBIT LIST
"A" Description of the Property
"B" Map of Property
"C" Development Plan
"D" Eligible Transportation Improvements
"E" Credits Against Transportation Impact Fees
"F" Allocation of Credits
Transportation Impact Fee Credit Agreement - CA-22-003 Page 5 of 14
Newberry Point Phase 2 Updated 2/23/2021
EXHIBIT A
Description of Property
STATE OF TEXAS
COUNTY OF TARRANT
KNOW all men by these presents that PULTE HOMES 0 IF TEXAS, LP., is the owner of the following described property:
BEING a tract of land situated In the Moses Wallery Sunray, Abstract Na. 15H and the W_H. Colthaip Surrey, Abstract Na_ 2B5. City of
Fort Worth, Tarrant County, Texas and being all of a Called 33.091 acre tract or land described in the Special Warranty Deed to Pulte
Homes cf Texas, L.P_, recorded in Instrument No. 0219116135, Official Public Records of Tarrant County, Texas and being rrxxe
particularky described as follows:
BEGINNING at the southwesi corner of said 33.091 acre tract in the east line of a called 30.291 acre tract of land described iii the Special
warranty feed to Crowley Irfdepandent School Dlslficl_ recorded in Instrument No. D207416955, Official Public Records of Tarrant
County, Texas and in W, Cleturne Road ;County Road Na. 1035); from which a 1' iron rod found hears North &9'40'32" East, a distance
of 25.0o feat;
THENCE North 0°22`02' West, with the weal line of said 33.091 acne tact and along said W. Cleburne Road, a distance of 589 54 feet to
a point for corner 1kt thg southeast comer of a called 16.18 acre tract of land described in the deed to Texas Electric Service Company,
recorded in Volume 3564, Page, 577. Deed Records of Tarrant County, Texas and Lf o southwest comer of a called 9.375 acre tract of
land descrbed In the Deed to Texas Eieotric Service Company, feeorded in Volume 3554, Page 613, Deed Regards of Tarrant
County, Texas; from which a concrete TESCO monunwrit found hears SDuih 8t3"20'09" West, a aistame of 25.00 Teel;
THENCE Nonh 89°12'46" East, with the south line of said 8,375 acre tract at a distance of 25-00 fPPI, passing a 1' iron rod
found, continuing in all a total distance of 2766.14 feel to a mag hall found at the southeast comer of sald 9.375 acre tract and In the west
line of of called 17,233 awe tract fir land described in the 17eed to Texas Elearic Service Company, recorded in Volume 3554, Page 622,
owed Records of Tarrant County, Texas and in Old Cleburne Crowley Junction Roab (County Road No_ 1079);
THENCE South 0°49'14` East, with the east line of said 33.091 acre tract and along said Old Clebume Crowley Junction Road, a
distance of 5$1.9d feet to a mag nail with washer stamped 'KHA" set at the southeast corner of said S1091 acre Tract:
THENCE South 89'40'32' Writ, with the south line of said 33.091 acre ifact, a distance of 277t).27 feet to the POINT OF BEGINNING
and corns inirrg 33.0918 aa-e5 or 1.441,435 square feet of land known as:
KELLEY TRACT
An addition to the city of Fort Worilh, Tarranil county, Texas, and de, hereby dedicate to the public use forever the easements
are ShoVwrr hereon, excapl thasa easements and rights -of -way created or dedicated by separate instrurnent as shown hereon.
EXECUTED THIS THE DAY OF - t,-�n�.• _R.
By, Pults Homes of Texas, L.P_, a Texas limited partnership
By, PuJte Nevada I, LLC, a Delaware limitiad liability company, its general partner
&Y'
Curt MiMward, Division DireWr. Land Development
Transportation Impact Fee Credit Agreement - CA-22-003 Page 6 of 14
Newberry Point Phase 2 Updated 2/23/2021
F.X14TRTT R
Map of Property
VICINITY MAP
N.T.S.
Transportation Impact Fee Credit Agreement - CA-22-003 Page 7 of 14
Newberry Point Phase 2 Updated 2/23/2021
EXHIBIT C
Development Plan
�99
X 6c�P F AP CSC ��6ai lg
Transportation Impact Fee Credit Agreement - CA-22-003
Newberry Point Phase 2
Page 8of14
Updated 2/23/2021
EXHIBIT D
Transportation Improvements
Transportation Impact Fee Credit Agreement - CA-22-003 Page 9 of 14
Newberry Point Phase 2 Updated 2/23/2021
RXT-TTRT'T R
Credits Against Transportation Impact Fees
Newberry Point Phase 2
Transportation Impact Fee Credit Overview
Value of ROW Dedication
Instrument # Plat Case # Eligible Arterial Value
D222015841 FP-21-102 W. Cleburne Rd. $ 207,113.23
Value of Capacity Added (Future Improvement Agreement)
CSCO Number Plat Case # Eligible Arterial Value
57185 FP-21-102 W. Cleburne Rd. $ 332,047.11
Total Transportation Impact Fee Credit $ 539,160.34
Value of Existing Demand
Building Permits in review
92 $ 345,000.00
Net Credit Available $ 194,160.34
Transportation Impact Fee Credit Agreement - CA-22-003
Newberry Point Phase 2
Page 10 of 14
Updated 2/23/2021
Right -oaf -Way Valuation for New berry Point Phase 2
aluatlan Method 1- Precentor ge of TIP Project Cost
El igible Arterial
Al. C eburne Rd-
21017Transportation ImproaementsPlan Project
Y40
Number
Estimated Construction Casts from 2017
$3,587,000
ransporlation Improvements Plan
Value of Tom l Project Right -of -Way (20% of
$717,400
onstruction Cmatj
ota 1 Project length (LF)
3,610
Arterial Crass -Section Width (LF)
110
dditionaI ROW needed for Roundabout (SF)
0
otal Project Right -of -Way (SFI
337J0D
Righter -Way Value Per Square foot
51.31
a luation Method 2 - Precentor a of Construction Project Cost
El igible Arterial
W- CIE h i_ r-e Rd -
City Project N umber
102925
Estimated Construction Costs from 2U17
$3,587,000
iansportation lmproverrtents Plan
alue of Tota I Project Right -of -Way (20% of
$717,4O0
Construidion Cosh
otal Project Length (LF)
3,610
Arterial Cross -Section Width jLFj
110
dditionaI ROW needed for Roundabout {SF)
0
otaI Project Right-uf-Way (SF)
397,1110
Right -of -Way Value Per Square Foot
$121
aluatannMleihod3-TAD a aisedaaIue
PAD Value as Df 3IW2022
AD Account
4135MA6
otal Area (SF)
1,2K944
Appraised Value
$19S.MO.013
Value per Square Foot
$0,16
Right -of -Way Dedication
W- Cleburne Rd.
Recording Instrument Number
D222OIS941
Final Plat Number
FP-21-102
Recording Data
1/4/2022
Total area of R+3`2tr dedicated tSF)
114,4Z7
Value per SF
§1.81
Credit
$207,113.23
TOTAL ROW Credit
5207,113.23
Transportation Impact Fee Credit Agreement - CA-22-003 Page 11 of 14
Newberry Point Phase 2 Updated 2/23/2021
Existing Demand (Building Permits CPN 1072825
Number of Permits 92
$539,160.34
Street
No
Street
Permit No.
Collection Rate
Credit Available
4641
Greyberry Dr
PB22-0621-7
$3,750
$
535,410.34
4645
Gre yber ry Dr
1311322-06219
3,750.00
$
531,660.34
4649
Gre yber ry 13r
131322-06249
3,750.00
$
527,910.34
4653
Gre ber ry Dr
PB22-06250
3,750.00
524,160.34
10200
Drayton Dr
PB22-06216
3,750.00
$
520,410.34
10204
Drayton Dr
1311322-06241
3,750.00
516,660.34
10208
Drayton Dr
PB22-06253
3,750.00
$
512,910.34
10212
Drayton Dr
PB22-06257
$
3,750.00
$
509,160.34
10216
Drayton Dr
PB22-06261
3,750.00
$
505,410.34
4657
GreVberry Dr
PB22-06529
3,750.00
501 660.34
4620
Benham Dr
PB22-06517
3,750.00
$
497,910.34
4624
Benham Dr
131322-06516
$
3,750.00
$
494,160.34
4628
Benham Dr
PB22-06515
3,750.00
$
490,410.34
4632
Benham Dr
PB22-06514
3,750.00
$
486,660.34
4633
Benham Dr
PB22-06522
$
3,750.00
$
492,910.34
4636
Benham Dr
PB22-06513
$
3,750.00
$
479,160.34
4637
Benham Dr
PB22-06525
$
3,750.00
$
475,410.34
4640
Benham Dr
PB22-06511
$
3,750.00
$
471,660.34
4641
Benham Dr
PB22-06526
$
3,750.00
$
467,910.34
4644
Benham Dr
PB22-06509
3,750.00
$
464,160.34
4645
Benham Dr
PB22-06527
$
3,750.00
$
460,410.34
4649
Benham Dr
PB22-06508
$
3,750.00
$
456,660.34
4649
Benham Dr
PB22-06528
3,750.00
$
452,910.34
4652
Benham Dr
PB22-06506
$
3,750.00
$
449,160.34
4656
Benham Dr
P1322-06503
3,750.00
$
445,410.34
4601
Gre ber Dr
PB22-08012
3,750.00
$
441,660.34
4604
G re yber ry D r
PB 22-08017
$
3,750.00
$
437,910.34
4605
Gre ber Dr
PB22-08014
3,750.00
$
434,160.34
4609
Gre ber ry Dr
PB22-08015
$
3,750.00
$
430,410.34
4609
Gre ber ry Dr
PB22-08016
3,750.00
426,660.34
4612
Gre ber ry Dr
PB22-08024
3,750.00
422,910.34
4613
Gre ber ry Dr
PB22-08025
$
3,750.00
$
419,160.34
4616
Greyberry Ur
PB 22-08026
3,750.00
415 410.34
4617
Gre yber ry Dr
PB22-08027
3,750.00
$
411,660.34
4620
Gre yber ry Dr
PB22-08028
3,750.00
407,910.34
4621
Gre yber ry Dr
PB22-08029
3,750.00
$
404,160.34
4624
Gre ber ry Dr
PB22-08055
3,750.00
$
400,410.34
4625
Gre ber ry Dr
PB22-08068
3,750.00
$
396,660.341
Transportation Impact Fee Credit Agreement - CA-22-003 Page 12 of 14
Newberry Point Phase 2 Updated 2/23/2021
4628
GF DF
P022-09070
$
3 75G-OO
$ 39 910.34
4629
Greyberry Or
P022-09072
$
3 75C-OO
5 384160.34
4632
GreybeM Dr
PB22-08073
3,750-00
5 385,410.34
4633
GreybeM Or
P822-ON75
3,750.00
S. 381660.34
4636
Greyberry Or
PB22-09077
3 750-D0
5 377 910.34
4637
Greyberry Dr
PB22-08079
$
3 75Q.00
5 374160.34
4640
Greyberry Dr
PB22-08OSi
3 7517.00
$ 37O 410.34
4644
Greyberry Dr
P822-0SOS3
$
3 750.D0
366 660.34
4601
Benham Dr
P822-09092
3,750.30
$ 36 910.34
4609
Benham Or
PB2.2-08096
3 750-00
359160.34
4613
Benham Dr
PB22-09101
3 750-00
355 410.34
4617
Benham Or
PB22-09103
3 751a-OO
35 660.34
4621
Benham Dr
PB22-09104
5
3 75fl-00
347 910.34
4625
Benham Dr
P022-08146
$
3 75s0-40
3" 160.34
4629
Benham Dr
PB22-ON99
$
3r750-O0
340,410.34
4617
GreybeM Dr
PB22-OH27
$
3 75D_00
336 660.34
4620
GreybeM Dr
P822-09022
5
3 75D-O+D
33 910.34
4624
Greyberry Dr
PB22-08O65
5
3 750-00
329160.34
4609
Benham Dr
PB2.2-0SD96
$
3 750-OO
325 410.34
4600
Greyberri Dr
PB22-OS394
3 750-00
32 660.34
4556
Greyberri Dr
PB22-OHM
3 75G-W
317 910.34
4552
Gr r, :lr
PB22-OMS1
3 750.DO
$• 314 160.34
4549
Be nharr :-r
PB22-04
$
3 751a-OA
31O 410.34
4553
Ben -ran- :-r
PB22-09696
3750-00
$: 306660.34
4557
Ben -,,an- :-r
P822-096S7
375D.00
30 910.34
4556
Ben-iam Or
PB2.2-096H
3750-40
$ 299160.34
4600
3ennarn Dr
PB22-03690
$
3r750.00
$ 295,410.34
4604
Den-iarn Dr
PB22-OH92
37510-00
291660.34
460E
Bennam Dr
PB22-OH93
3750-010
287910.34
4561
5ennani Dr
PB22-09834
37510-00
2.84160.34
4560
3e n nani Dr
PB22-OH56
$
3 759.00
$ 280 410.34
4561
Ben-iam Dr
PB"-09799
37517.00
276660.34
4545
Gre be Dr
PB"-10291
37510-OO
27 910.34
4549
Greybarry Dr
P3'2-10292
3750-00
263160.34
4553
Greyberry DF
P3221-10M
$
3750.DO
$ 265410.34
4557
Greyberry Or
PB22-10294
$
3 750.00
$ 26 660.34
4544
Greyberry Dr
P022-11270
$
3 7517.00
$ 257 910.34
4548
GreybeM Dr
P1322-11271
$
3 750-DO
$ 254160.34
45M
Benham Dr
PB22-12272
$
3r75+0.DO
$ 250,410.34
4552
Benham Or
P022-11274
$
3 75(].00
$ 246 66034
4532
Greyberry Dr
P022-15433
$
3 750-00
5 24 91034
4533
Greyberry Dr
PB22-15434
$
375i}-OO
S 233160.34
4536
Greyberry Or
PB22-15436
$
3 751}-00
5 235 410.34
4537
Greyberry Dr
PB22-15441
$
3751]-OO
$ 23 660.34
4540
Greylberry Dr
P022-15442
$
3 75U-UO
$ 227 910.34
4541
Greyberry Dr
P22-15443
$
3 750-00
5 224160.34
4532
3e nnam Dr
P82.2-15444
$
3 750.OD
$ 22D 410.34
4536
3e nnam Cyr
P022-15446
$
33 75C[.OD
$ 215 660.34
4537
3en-iam :-r
P022-15446
$
3790-DO
$ 21 910.34
454.3
Ben ham :-r
P022-154b4
$
3 750-010
$ 204160.34
4544
;Benham :-r
PB22-154G6
$
3r75+0-00
$ 205,410.34
4541
Benham :-r
P822-15467
$
3 750-DO
$ 20 66034
4545
Benham Dr
PB22-15469
$
3 750-00
$ 197 910.34
4529
Greylberry Cr
PB22-19824
$
3750.010
$ 194,160.34
Credit Rernai -
$ 194,160.34
Existing Demand
$345,000-00
Transportation Impact Fee Credit Agreement - CA-22-003 Page 13 of 14
Newberry Point Phase 2 Updated 2/23/2021
EXHIBIT F
Allocation of Credits
First-Come/First Served within FP-21-102
Transportation Impact Fee Credit Agreement - CA-22-003 Page 14 of 14
Newberry Point Phase 2 Updated 2/23/2021